Upgrades
- Sasol (SSL) upgraded by Goldman Sachs from Neutral to Buy
- Pets at Home Group (PAHGF) upgraded by Goldman Sachs from Sell to Neutral
- China Tower (CHWRF) upgraded by Goldman Sachs from Neutral to Buy
- Lufthansa (DLAKY) upgraded by Credit Suisse from Neutral to Outperform
- Northern Star Resources (NESRF) upgraded by JPMorgan from Neutral to Overweight
- Societe Generale (SCGLY) upgraded by Barclays from Equal Weight to Overweight
- AGL Energy (AGLNF) upgraded by JPMorgan from Neutral to Overweight
- Beach Energy (BEPTF) upgraded by JPMorgan from Neutral to Overweight
- Salmar (SALRF) upgraded by DNB Markets from Hold to Buy
- Gildan Activewear (GIL) upgraded by Desjardins from Hold to Buy
- Precision Drilling (PDS) upgraded by Scotiabank from Underperform to Sector Perform
- Empire (EMLAF) upgraded by Desjardins from Hold to Buy
Downgrades
- SLC Agricola (SLCJY) downgraded by JPMorgan from Overweight to Neutral
- Johnson Matthey (JMPLY) downgraded by JPMorgan from Neutral to Underweight
- St. James’s Place (STJPF) downgraded by Goldman Sachs from Neutral to Sell
- Fletcher Building (FRCEF) downgraded by Goldman Sachs from Neutral to Sell
- Air France-KLM (AFLYY) downgraded by Credit Suisse from Neutral to Underperform
- Capital & Counties (CCPPF) downgraded by Citi from Buy to Neutral
- Buzzi Unicem (BZZFF) downgraded by Morgan Stanley from Equal Weight to Underweight
- Royal Mail (ROYMY) downgraded by Bernstein from Outperform to Market Perform
- Loblaw (LBLCF) downgraded by Desjardins from Buy to Hold
- Ferguson (FERGY) downgraded by Liberum from Buy to Hold
- Korea Electric Power (KEP) downgraded by BofA/Merrill from Buy to Neutral
- Central Garden & Pet (CENT) downgraded by Argus from Buy to Hold
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